“Strategy, plans, and budgets are unrelated to one another.” Do you agree? Explain. “Budgeted performance is a better criterion than past performance for judging managers.” Do you agree? Explain. Personal Budgeting: Imagine that you need to prepare a budget. The budget could be for your overall general finances, a big trip you would like to take, something you would like to accomplish, etc.). Describe your budgeting process (Is there a strategy or plan involved?). What line items would be included? How often would you review your budget assumptions and why?

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Cost analysis and budgeting Strategy plan and budgets are related to each other and affect one anoth... View the full answer